The gig economy, where independent consultants, contractors, and freelancers create portfolios of work in lieu of one full-time job, is transforming the way we work by disconnecting work from an office. In the traditional jobs economy, employers often require employee attendance in the office five days a week, eight hours a day.
Read allSource: Will the Gig Economy Make the Office Obsolete?
Reliable Plant points to a number of studies and data points that show just how devastating office clutter and disorganization can be. Their research shows that the average person wastes 4.3 hours per week searching for paper, which increases stress and reduces concentration and creative thinking.
Business leaders often think of “efficiency” and “productivity” as synonyms, two sides of the same coin.
When it comes to strategy, however, efficiency and productivity are very different. At a time when so many companies are starved for growth, senior leaders must bring a productivity mindset to their business and remove organizational obstacles to workforce productivity.
Productivity (the lack thereof being the bane of many advanced economies) can basically be summarized as getting more with less.
More specifically improved productivity comes about when the ratio of the factors of production (land, capital, labor etc.) changes positively in favor of output.
All CEOs are concerned with this most basic of ideas.
Irrespective of their organizations’ mission or goal, if it is achieved with lower productivity than, say, previous efforts or compared to an alternative approach or competitor , the result will be second class and possibly damaging.Users of information or technology (I suspect we ought to split “I” and “T” from IT) such as business leaders or IT leaders like the CIO, should also be concerned with getting more with less.
But there are some interesting and perhaps infrequently thought implications with this idea. For example, sometimes we can get more output from the same input- which is a dialog about efficiency. More challenging is the idea that you might be able to get a greater outcome from increased inputs, compared to an alternative approach or mix of inputs and outputs. Finally, sometimes we actually invest without a goal or specific output defined in order to lay a foundation for a subsequent or later investment and change in output.
In financial terms this investment might be thought of a “lost leader”.
So given these complexities why is it that not more investments in information (data and analytics) or technology not evaluate the implied, likely or desired change in inputs and outputs? Let’s look at some examples.